In Congress, crypto, House Financial Services Committee

Today, at the opening of the House Financial Services Committee’s final hearing of the 117th Congress, Committee Chair Maxine Waters (D-CA) and Committee Ranking Member Patrick McHenry (R-NC) engaged in a lengthy colloquy, discussing areas where worked successfully along bipartisan lines in recent years.  During the course of that colloquy, Waters and McHenry seemed to go out of their way to address and affirm the Committee’s responsibility to legislate on cryptocurrency and stablecoins.

Chairwoman Waters:

“Well, I’d like to take a point of personal privilege at this point. And also thank you for the times that we’ve been able to work together but I want to spend a little bit of time on some recent work that we’ve been doing on stablecoins.

Our staffs have been working very, very hard. We have all taken cryptocurrency very serious[ly]. And I want to commend all of the members on both sides of the aisle have for the way that we all conducted ourselves yesterday. I think every member had something important and very, very thoughtful to say about what has taken place and what we are attempting to do.

And so – I am not only wishing you the best in your chairmanship, but I’m looking forward to continuing to work – not only on some of the issues that I have alluded to – but certainly on cryptocurrency.

Thank you very much, and I yield back the balance.”

Ranking Member McHenry:

“I agree. I hope that we can continue the bipartisan work within this committee, because this is the center of where the legislature is going to happen on digital assets in the coming years.”

Chairwoman Waters:

“Thank you. Thank you very much. And I now recognize member of the committee the gentleman from North Carolina, Mr. McHenry for four minutes.”


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